Or you will need to be much more specific. A high cash flow is relative,
high in your area is almost a break even, so we speak in terms of
return on investment to get actual numbers. I agree if your total purchase
budget is $150,000 fourplexes are unlikely and duplexes are going limited,
again depending what you are expecting for return on your $150,000.
A different view is that with multi units you don't have all your eggs in one
basket as you should never be
I am from Elk Grove. I am therefore partial to some areas in South Sacramento.
Here you may find SFRs in the $150k price range, which are relatively new.
They can be rented out for around $1200-1300 per month.
The demographics is diverse with an increasing Asian population and many Asian restaurants and shopping centers.
For an out of town investor, I would be able to offer a turn key service from identifying an investment property, acquisition, renovation, leasing and property management.
Please call me if you have any questions,
Bethany Real Estate and Investments
It's kind of hard to find something under a $150,000 that's not going to need some work to get it in shape.
In addition, what I think you should do is come up here like I have told many investors before from the Bay Area and take what I call the "Chamber of Commerce Tour".
By driving around looking at some of the properties for sale along with the various neighborhoods, you'll know after one trip pretty much what you will like.
When you say you want a "high cash" flow, it would be nice if we all understood what you meant by that. What you may think is high, someone else would think is not.
Regards duplexes and four-plexes... I'm not a big fan of Four-plexes in this area for many reasons, but mostly because they don't have the amenities that a Single Family home has or even a Duplex.
If you'd like to see what the potential cash flow can be on a duplex, you can check out the link below that includes a video and the "pro-forma" cash flow analysis.
I hope this helps.
Make it a great day...!!!
It's frustrating, but it's the world we live in. You would probably be well served to contact a real estate professional in the area to discuss what your definition of a "Good" neighborhood is and what your goals are; balancing leverage/cash flow/ appreciation, etc. There are opportunities in very nice neighborhoods where the purchase price makes for a thin cash flow, but the risk is lower due to the age and condition of the home and neighborhood.
I am solely a property manager, (a "property management savant" so to speak), so I don't buy or sell homes, but my advice to my investor clients, (those who take the time to ask anyway), is to research crime stats and schools, (renters want their kids to be safe and successful, just like home owners do), then pick out some listings in the prospect areas and have me, (or another PM), do a rent analysis.
It's only a snapshot in time, and it's an extra step, but you at least have real data to plug into your ROI analysis.
I hope that helps.
Fanny, placing the property in the hands of a property management company will resolve the "easy to manage" concern. Your next concern was "high cash flow". That will be determined by what you get for rent subtracted by your monthly expenses on the property. Erin's blog link below looks like it will give you a great general idea.
However, sounds like you are looking for an agent who can help you pull the two together. Although I don't represent buyers, allow me to refer you to a great buyer's agent who assists Bay Area clients as well as international and local. Her name is Patsy Rogers. Please let her know I referred you. Her contact info is below.
Fusion Real Estate Network, Inc.
3550 Watt Ave. STE.210
Sacramento, CA 95821
You will need to define what you mean by "good". By law, we cannot tell you what we consider "good" neighborhoods. That is called steering.
If you mean good as in anything under $150K, then that could be any place in Sacramento county. As Patrick and Tina have stated below, you need to determine what your investment goals are and then prehaps re-word your question.
I would also recommend that you hire the services of a local area real estate professional who will sit with you and discuss your goals and help you map out a plan. I don't believe you can successfully accomplish that on a thread like this.
Hope that helps.
Keisha Mathews, REALTORÂ®
CDPEÂ®, HRCÂ®, HAFAÂ® Certified
The Short Sale Lady(sm)
Century 21 Landmark Network
(916) 370-1803 cell/direct
(916) 405-3886 fax
is. Are looking to maximize cash flow, future appreciation, ease of management
or getting "best deal". You typically cannot get all, so you have to decide what is
most important. Are you paying cash, or going to be getting financing? Are you
prepared to purchase a fixer, or do you need it in "rentable condition"?
Sacramento has a lot of great investment potential; I was recently speaking with
a bay area agent who was amazed at our return on investment.
Good neighborhood is a relative term that needs more explanation. As an investor
you may look at location differently than if you were looking for a personal home.Your
primary concern should be can you attract a quality tenant and keep the property